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Sonic R. System

  • #66,901
  • Edited 7:49am Mar 7, 2014 5:57am | Edited 7:49am
EU added shorts #6 and #7. we'll see what NY brings looks like a bumpy ride......IMO, MM's are building shorts we'll see what happens above 1.3900.



Love it when a plan comes together
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  • #66,902
  • Mar 7, 2014 6:48am Mar 7, 2014 6:48am
Added AU Short #2. I may pick up a 3rd short if prices crosses above the RDH.
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I'm a dog chasing cars.
  • #66,903
  • Mar 7, 2014 6:50am Mar 7, 2014 6:50am
EJ Short Trade Opened:

Entered shorts #1-3, Scouts. The H1 chart shows how dramatic was the pump yesterday, and it is being followed up in the LS before the USO and NFP. All of this PA has put the price above a whole number on a 400+ pips bull swing, it has also put the price well over 100 pips above RWH. Topping it off, our M1 chart shows very notable activity once the price made it above this current whole number, which is a PVSRA indication the MMs are bears. I suspect they are closing longs and opening shorts, but time will tell. And the NFP release might be the timing to tell.
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  • #66,904
  • Edited 8:02am Mar 7, 2014 6:56am | Edited 8:02am
Quoting traderathome
EJ Short Trade Opened: Entered shorts #1-3, Scouts. The H1 chart shows how dramatic was the pump yesterday, and it is being followed up in the LS before the USO and NFP. All of this PA has put the price above a whole number on a 400+ pips bull swing, it has also put the price well over 100 pips above RWH. Topping it off, our M1 chart shows very notable activity once the price made it above this current whole number, which is a PVSRA indication the MMs are bears. I suspect they are closing longs and opening shorts, but time will tell. And the NFP...
TAH,

Hopefully pretty much same scenario for EU in re: pump, above 1.3900 and news sell off!
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  • #66,905
  • Mar 7, 2014 7:01am Mar 7, 2014 7:01am
Short AUD JPY at 93.95. Its gone up enough already! Will add more if it gets near 9450 and 95 .
Its all in the mind.
  • #66,906
  • Mar 7, 2014 7:12am Mar 7, 2014 7:12am
There is only one way USD is going- Down! I am not long USD on anything. Look at the AUD USD and EUR USD charts. IMHO, AUD USD long will be the best trade of this year. It has formed a substantial triple bottom on the daily and weekly tome frame and knocking on the long term resistance here. If it breaks above 91-92 range in sustained manner, expect it to head up , much higher. Just my 2 cents. Yen longs on the other hand side, looks yummy. I am short AUD JPY, GBPJPY.
Its all in the mind.
  • #66,907
  • Mar 7, 2014 7:15am Mar 7, 2014 7:15am
Quoting 5abi
There is only one way USD is going- Down! I am not long USD on anything. Look at the AUD USD and EUR USD charts. IMHO, AUD USD long will be the best trade of this year. It has formed a substantial triple bottom on the daily and weekly tome frame and knocking on the long term resistance here. If it breaks above 91-92 range in sustained manner, expect it to head up , much higher. Just my 2 cents. Yen longs on the other hand side, looks yummy. I am short AUD JPY, GBPJPY.
Your analysis assumes that a) price isn't going to retrace from its current highs and b) we are all taking trades based on the daily and weekly TFs and c) it's a valid analysis.

We will see what happens. Price may go up. It may also go down.
I'm a dog chasing cars.
  • #66,908
  • Mar 7, 2014 7:29am Mar 7, 2014 7:29am
Here..we go..

NFP...


Inserted Video


Sonic
  • #66,909
  • Mar 7, 2014 7:41am Mar 7, 2014 7:41am
Quoting ElectroGypsy
{quote} Your analysis assumes that a) price isn't going to retrace from its current highs and b) we are all taking trades based on the daily and weekly TFs and c) it's a valid analysis. We will see what happens. Price may go up. It may also go down.
Hi, I trade on daily and weekly TF and my analysis is valid for longer tF
Its all in the mind.
  • #66,910
  • Mar 7, 2014 7:53am Mar 7, 2014 7:53am
AU Short Trade Opened:

Entered shorts #1-2, Scouts. This trade is a trade of what I consider to be a retrace (down) move before more upside (see post on inverted H&S).
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  • #66,911
  • Mar 7, 2014 7:56am Mar 7, 2014 7:56am
Closed all my open trades, all for profit....I probably could let them have run a little bit longer, but I was very content with the profits from this week. I may enter a position or two today if I spot a good entry. The AU trade didn't get great momentum like the other pairs, but it still managed to yield some profit. I considered taking another position on UJ at the green 15m candle (about 6 bars after my entry). In 20/20 hindsight, of course I regret it

I took the UC trade in light of the candles marked with the arrows on the chart. I removed the "buy" arrow because it was blocking the candle I used for entry.
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I'm a dog chasing cars.
  • #66,912
  • Mar 7, 2014 7:56am Mar 7, 2014 7:56am
Quoting Bernhard
any advice to AU`? (regarding HandS posted from TAH) {image}
my entry was too late, just got out BE before it droped.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #66,913
  • Mar 7, 2014 8:04am Mar 7, 2014 8:04am
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  • #66,914
  • Mar 7, 2014 8:17am Mar 7, 2014 8:17am
I know we don't trade the news. However, this article was published by an MM and illustrates an interesting point. Notice how price went the opposite way of what they were telling the public

http://www.forexfactory.com/news.php?do=news&id=474304
I'm a dog chasing cars.
  • #66,915
  • Mar 7, 2014 8:21am Mar 7, 2014 8:21am
Quoting ElectroGypsy
I know we don't trade the news. However, this article was published by an MM and illustrates an interesting point. Notice how price went the opposite way of what they were telling the public http://www.forexfactory.com/news.php?do=news&id=474304
This is an example of MMs moving price to guarantee they make profits, and to hell with whatever the damn "news" is! Besides, they know in advance what the essence of releases will be. There is no regulation against insider trading in the currency market. The MMs do not react to "news". They scheme in advance of it.

No, we do not trade the news. We trade what the market gives when it gives the right stuff at the right time, which might be before, during or after the "news", or not at all. We cannot know how price will move next, nor when trends will reverse. We stay focused on our charts, nothing else.

-tah
  • #66,916
  • Mar 7, 2014 8:27am Mar 7, 2014 8:27am
Quoting ElectroGypsy
I know we don't trade the news. However, this article was published by an MM and illustrates an interesting point. Notice how price went the opposite way of what they were telling the public http://www.forexfactory.com/news.php?do=news&id=474304
Yes, totally BS and that's how they suck in news traders and steal their $.
Keep It Simple
  • #66,917
  • Mar 7, 2014 8:37am Mar 7, 2014 8:37am
EU Daily, inverted H & S with a pin bar forming food for thought for next week.
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  • #66,918
  • Mar 7, 2014 8:41am Mar 7, 2014 8:41am
Quoting cigarguy
{quote} Yes, totally BS and that's how they suck in news traders and steal their $.
True.

This was why I created the FFCal Panel indy a long time ago. It does not bother to show "expected" and then "actual" release results. Why bother with that crap! You see, it doesn't really matter. The Market Makers control price moves. And they will move prices however they damn well feel like moving them in order to assure they steal as much money from the market as they can. This is the basic mechanics of equity markets. It is a business run by Market Makers for their personal profits above all other reasons. They have no allegiance to fundamentals, technicals nor "news". Their sole allegiance is to their own profits.

Therefore, the only good that comes from knowing about "news" is to know when it is scheduled to happen. Everything else about "news" is essentially bogus when it comes to trading. Our FFCal Panel lets us know when the "news" is coming. That, and what our charts show us is all that is important.

-tah
  • #66,919
  • Mar 7, 2014 8:44am Mar 7, 2014 8:44am
Quoting cigarguy
EU Daily, inverted H & S with a pin bar forming food for thought for next week. {image}
Not a valid H&S because an inverted H&S can only be at the bottom of PA, not the top.
http://www.chartpatterns.com/invtdhe...lderschrts.htm
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  • #66,920
  • Mar 7, 2014 8:55am Mar 7, 2014 8:55am
Euro:

It is fascinating how the price of EU, EJ.....just about anything associated with the euro, can progress to new highs over and over again! The only certain thing about markets is that nothing is certain. But, I wonder, will the euro will go down in history as the single currency that made one thing about the currency market certain?

Folks, a bubble does not exist without popping or deflating eventually. And this one is extremely inflated! And it has been patched over and over again to keep it inflated. It seems reasonable that sooner or later, either this bubble will burst, or it will fall from the weight of the patches.

http://www.ifre.com/eurozone-banks%E...134975.article

-tah
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